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Companies Act 1993

Voluntary administration - Administrator's duty to file accounts and summary reports

239ACZ: Administrator must file accounts

You could also call this:

“Company administrator must report financial activities regularly”

If you’re an administrator, you need to file accounts with the Registrar. You must do this for different time periods. First, you file for the first 6 months after you start the job, or a shorter time if you choose. Then, you file for every 6 months after that while you’re still the administrator. Finally, you file for the time between your last 6-month period and when you stop being the administrator.

You have to file these accounts within 20 working days after each period ends. The accounts must be in a special form that’s been decided already. In these accounts, you need to show all the money you received and spent during each period. For all periods except the first one, you also need to show the total of all money received and spent since you started as administrator.

If you don’t do this, you’re breaking the law. You could be found guilty of an offence and get a punishment. The punishment is explained in section 373(2) of this law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321609.

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Part 15A Voluntary administration
Administrator's duty to file accounts and summary reports

239ACZAdministrator must file accounts

  1. Every administrator must file an account with the Registrar for each of the following periods:

  2. the period of 6 months (or shorter, as the administrator decides) after the day on which the administrator was appointed; and
    1. each subsequent period of 6 months during which the administrator holds office; and
      1. the period between the last period of the kind referred to in paragraph (b) and the day on which the administrator vacates office.

        1. The administrator must file the account within 20 working days after the end of the period in question.

        2. The account must be in the prescribed form and must show,—

        3. for each period, the administrator's receipts and payments; and
          1. for each period except the first, the aggregates of the administrator's receipts and payments since the day on which the administrator was appointed.

            1. A person who fails to comply with this section commits an offence and is liable on conviction to the penalty set out in section 373(2).

            Compare
            • Corporations Act 2001 s 432(1), (1A)(a), (b) (Aust)
            Notes
            • Section 239ACZ: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).
            • Section 239ACZ(4): inserted, on , by section 23 of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).